Weekly Market Report
Mark Dyson, Managing Director
Further losses in penultimate sale
21 June 2019
After the price reductions experienced over the previous two weeks, the second-last sale of the 2018/19 wool selling season produced another week of losses on a small national offering of 19,072 bales (with the Fremantle selling centre again in recess).
With low buyer confidence apparent from the opening lot, the Eastern Market Indicator (EMI) fell by 57 cents for the week to close at 1,766c/kg.
Prices across all microns were generally discounted by 20 – 40 cents from the outset, then slowly but noticeably deteriorated as the day progressed, with the market struggling to find a solid level.
By the end of the first day’s selling most types and descriptions were selling at levels 40 – 60 cents below the previous sale, with the second day generally bringing further losses although not to the same extent as day one.
Some broader MPGs in the Southern region even managed small increases as the market found a level.
The oddment market had an up-and-down week losing 20 – 30 cents on the first selling day, then recovering 5 – 10 cents of those losses on the second.
Fremantle returns next week for the final sale of the season, and as it currently stands there is 30,872 bales rostered for sale, with selling in all three centres.